Ground rent ‘scandal’ shakes Taylor Wimpey

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The Taylor Wimpey ground rent scandal involves thousands of purchasers of the company’s new build properties who have acquired a 10 year doubling lease. These leases incorporate a ground rent clause which rises year on year to the point where the property is likely to become un-mortgageable and difficult to sell.

Taylor Wimpey said that it was working with customers who had bought leasehold houses or flats in 2007 and 2011 in the northwest that were subject to their ground rents doubling every ten years.

Scandal-hit Taylor Wimpey was last night accused of breaking its promise to ride to the rescue of furious customers trapped in homes with soaring ground rents. The builder has faced fierce.

Update on the leasehold review. Taylor Wimpey is introducing a scheme to help customers who purchased directly from us and who still own properties which have a lease with a ten year doubling ground rent clause. For further information on the Taylor Wimpey Ground Rent review assistance scheme.

The big names behind the scandal are developers Taylor Wimpey and Bellway, which have sold homes with tiny ground rent charges, only to sell the freeholds to greedy investment firms. Homeowners say.

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As well as the growing cost of paying ground rent, such terms cut the value of the property. Taylor Wimpey has since stopped selling homes with such terms. Leasehold scandal: ground rent that starts.

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House builder taylor wimpey pitted itself as one of the good. who has represented leaseholders affected by the scandal, who said that developers agreeing to vary unreasonable ground rent usually.

The U.K.’s scrutiny of malpractices in the leasehold market, where some leases can run as long as 999 years, intensified after customers complained about soaring ground rents charged by firms..

Taylor Wimpey has set aside 130m to settle disputes over ground rents on leasehold properties after homeowners found themselves hit with high charges and homes that were difficult or impossible.

Sunday times reports taylor wimpey ground rent scandal, as executives meet leaseholders By admin on Nov 28, 2016 09:22 am The Taylor Wimpey ground.

Taylor wimpey sees first-half profits drop after 130mln charge for ground rent scandal, but to pay another special dividend taylor wimpey sees first-half pr.

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